Greek Property Taxes Explained: ENFIA, Rental Income Tax, and Capital Gains

Investing in Greek real estate is one of the smartest financial moves you can make today, offering high rental yields and capital appreciation. However, building a successful investment strategy requires a clear view of your ongoing costs.

To calculate your true Net Return on Investment (ROI), you need to understand the three pillars of Greek property taxation: ENFIA (Annual Property Tax), Rental Income Tax, and Capital Gains Tax.

Here is a straightforward, jargon-free breakdown of what you need to know for 2026.

1. ENFIA: The Annual Property Tax

Unlike many countries where annual property taxes are calculated purely as a flat percentage of the market value, Greece uses a specific system based on the property’s characteristics. ENFIA is split into two parts: the Principal Tax and the High-Value Property Tax.

The Principal Tax (Basic Tax)

This is calculated per square meter and depends entirely on the property’s Objective Value (Aντικειμενική Αξία)—the official state-calculated value of the zone where your property is located.

The state assigns a “Zone Value” (expressed in € per square meter) to every neighborhood. The higher the zone value, the higher the basic tax rate applied to your property.

Beyond the zone value, the final ENFIA is adjusted by multipliers reflecting:

• The Age of the Building: Older buildings receive discounts.
• The Floor Level: Ground floors pay less than top-floor penthouses.
• Facade Profiles: Properties with multiple street views may have a slight premium.

Official ENFIA Rates per Square Meter (Buildings)

Quick Calculation Example: If you own a 100 sq.m. apartment in a central Athens neighborhood where the official Zone Value is €1,800 / sq.m., your property falls into the €1,501 – €2,500 bracket.

According to the table, your basic tax rate is €3.70 per sq.m.

• Base ENFIA: 100 sq.m. × €3.70 = €370 per year (before minor adjustments for building age or floor level).

The High-Value Property Tax

If your total real estate portfolio in Greece exceeds €300,000, an additional progressive tax is triggered. This rate starts at a minor 0.15% and can scale up for multi-million euro portfolios.

💡 Smart Investor Tip: If you purchase a property through a Greek corporate entity (S.A. or I.K.E.) instead of as an individual, different ENFIA rules and deductions apply. Always consult with a local tax accountant to see which ownership structure maximizes your tax efficiency.

2. Tax on Rental Income: Maximizing Your Net Yields

If you plan to rent out your property, your income will be taxed using a progressive bracket system. The tax is calculated on your net rental income after a standard 5% deduction for maintenance and repair expenses (meaning you are only taxed on 95% of your gross rental income).

Annual Rental Income	Tax Rate
€0 – €12,000	15%
€12,001 – €35,000	35%
€35,001 and above	45%

💡 Real-World Example

Let’s say you buy a renovated apartment in the center of Athens that generates €1,000 per month in rent, totaling €12,000 per year.

1. Apply the 5% Maintenance Deduction: €12,000 minus €600 = €11,400 taxable income.
2. Apply the 15% Tax Bracket: 15% of €11,400 = €1,710 total annual tax.
3. Your Net Income after tax: €10,290.

⚠️ Crucial 2026 Update for Short-Term Rentals (Airbnb)

If you operate your property as a short-term rental, you must note two major regulatory framework updates:

• The Golden Visa Restriction: Properties acquired via the Greek Golden Visa program are strictly forbidden from being placed on short-term rental platforms (Airbnb, Booking). They can only be leased long-term.
• The Corporate Tax Shift: Individuals who register three (3) or more properties on short-term rental platforms are legally classified as a business. This means you will no longer use the individual tax brackets above; instead, you will be subject to corporate tax rates, business fees, and 13% VAT.

3. Capital Gains Tax: What Happens When You Sell?

Capital Gains Tax is the tax levied on the profit you make when selling a property (the difference between the purchase price and the selling price).

• For Individual Investors: To keep the real estate market highly competitive and attractive to foreign funds, Greece has repeatedly suspended the 15% Capital Gains Tax for individuals. This means that if you buy a property in your personal name and sell it at a profit, you currently enjoy 0% capital gains tax.
• For Corporate Investors: If the property is owned by a company, any profit from the sale is treated as regular corporate income and taxed at the flat corporate rate (currently 22%).

The Golden Rule of Greek Real Estate

Navigating international tax laws can feel overwhelming, but Greece’s property tax system is remarkably transparent once you break it down. By factoring in ENFIA, optimizing your rental brackets, and utilizing individual tax exemptions, you can accurately secure a lucrative, high-performing asset.

Before making any financial commitments, ensure you pair your real estate agent with a reputable Greek tax accountant (Logistis) and a real estate lawyer. They will run a specialized pre-acquisition report to confirm the exact objective value and projected tax liabilities of your future property.